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good morning, everyone. welcome. i'm barbara harrison. it is monday, july 11, 2011. we begin with negotiations that are occupying nearly all of the time and energy of the president and congressional leaders. the obama administration says lawmakers have ten days to make a zeal to raise the debt limit. in just minutes, the president is expected to address the press. house and senate leaders have been told to be prepared to meet every day this week after a sunday of talks that showed little progress. the white house wants $4 trillion in debt reduction as part of the deal to raise the
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ceilings. republicans want only about $2.4 trillion in cuts in an effort to avoid raising taxes. >> to get a big tax package we need increases in a situationing difficult. with unemployment, we have a terrible idea it is a job killer. >> what's really appalling is to see our republican colleagues to provide a form of extortion. if you don't agree to deficit reduction the way we want it, we are going to put all these jobs at risk. >> treasury secretary timothy geithner says that if the debt ceiling sing not raised by august 2, it could have catastrophic consequences on the global economy. president obama is expected to hold that news conference we mentioned on debt limit negotiations at any minute now. as soon as he steps to the podium we will bring the entire news conference live right here on nbc4. take a look outside now. it is getting hotter.
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it could be dangerous, code orange, i believe, it is now. tom kierein has been keeping an eye things. we had a nice weekend. a hot one, however. as we look at the sky we can see a lot of haze out there and humidity is back with us. tom will be joining us in just a minute to talk about the weather and there he is. good morning. >> good morning. welcome back. good to have you back with us. there is the view of our temperatures around the region now. we have it already climbing to near 90 degrees. already at reagan national, 88 degrees here just past 11 cloak in the morning. and the humidity has increased as well. temperatures around the bay now are in the mid 80s. little bit of a breeze off the water there. it is feeling a little more comfortable. inland we are into the upper 80s to near 90. throughout most of virginia and maryland, eastern shore, at the beaches, in the mid 80s. it is -- hot and humid day there as well. as we take a look at the view
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from space we have the hazy sunshine around the mid atlantic states now. there's storms rolling through southern michigan and northern indiana. those may make their way here tomorrow. leading edge of drier air that will push in but between now and then expect hazy, hot and humid afternoon with temperatures near 100 degrees. overnight tonight is hazy and humid and in the 80s through the evening. then tomorrow, as we get into the afternoon up near 100 but after that we ought to get a break from the high heat and humidity. barbara? >> thank you, tom. definitely summer in washington again. thank you. new today. everything back to normal after this water main break near the key bridge and m street in georgetown. take a look. news crews snapped these pictures of the gushing water. break left a lot of standing water on the road. we left message was the d.c. water department but have not yet heard back from them. driving around georgetown will be a little rough for a few months. crews are closing a lane of canal road to make major repairs to a water main there.
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news4's megan mcgrath tells bus the changes and repairs and what it means for your commute. >> reporter: this is a very large water main that's involved with this project. they are going to be working on a 48-inch pipe over the next several weeks. crews will be sealing the inside joints of that pipe. what's this going to mean is if a lane closure on canal road, inbound side of canal road, we are expecting to see traffic tie-ups. the work trying to avoid the main brunt of rush hour, every damon through friday it will get under way around 9:30 in the morning. work zone will be in place. until 3:30 in the afternoon. we are talking about the stretch of canal between mcarthur boulevard and 35th street. and this work is expected to go on until the beginning of september. now folks who commute using canal road, folks that live in the area, not too happy about it. they think it will probably be ugly here for the next several weeks. >> it is going to be hard for the commuters. it is going to cause a lot of backups. at least starting after the main part of the rush but anyone --
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any accidents that may happen will completely be gridlock. >> i'm not waiting on it. i'm going to try to avoid it as much as possible. but it has to be done. >> reporter: possible work-arounds, g.w. parkway and reservoir road, again, they are trying to stay away from the main rush hour period but any time you take away lanes on canal road, you see traffic tie-ups, so folks are expecting the worst. megan mcgrath, news4. right now prince george's county police are announcing an arrest has been made in the murder of a convenience store clerk. back in april, 69-year-old richard nam was killed inside his shop. annapolis road in bladensburg. police say the killer then set the store on fire and tried to cover up what might have been a robbery attempt. prince george's county police were also releasing surveillance video of a possible shooting suspect around 3:00 a.m. sunday morning police responded to a call about a
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shooting at the budget inn on 3100 -- on the 3100 block of branch avenue in temple hills. shooting victim was taken to the hospital where they are expected to recover. there have been no arrests in this case so far. montgomery county police have released the identity of pedestrian killed early this morning in germantown. investigators say 20-year-old dominique mcfairlane chase was hit by a car when he tried to ross the road. >> reporter: according to witnesses when this accident happened the pedestrian was crossing at a diagonal and the center of 118. it was very dark out here when he was struck by that vehicle. police say just before 1:00 a.m., 1-year-old dominick forecastfarland chase was struck and killed while considers 118 in germantown. >> witnesses advise that the subject was not crossing in the cross walk crossing. the driver of the car, 55-year-old germantown man,
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remain order the scene. >> reporter: montgomery county police say 5-year-old leonard menza of germantown was behind the wheel of the silver lexus that struck chase. mcfarland chase was rushed to the hospital. >> he went to the suburban hospital where he died of his injuries. >> reporter: so far this year montgomery county has experienced less deadly pedestrian accidents than last year. there have been five so far in comparison to seven this time last year. police are still trying to figure out who if anyone is at fault for this morning's accident. >> they are just laying out all the facts and gathering all the evidence. >> reporter: even with the pedestrian walking outside of the cross walk, there -- is the possibility that the driver could face charges? >> there is -- in any crash we go through all of the facts and go where the evidence is. >> reporter: as it stands montgomery county police have not filed any charges against the driver in this accident. in germantown, tracee wilkins, news4. sex abuse trial against albert haynesworth has been postponed until next month.
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the skins $100 man was supposed to appear in court this morning but his attorneys asked the trial be delayed until august 2 to accommodate the schedules of some defense witnesses. haynesworth is charged with misdemeanor sex abuse after a waitress at the w hotel accused him of groping her back in february. his attorneys will be in court this morning to confirm the new date. testimony in the perjury case against one of baseball's all-time greats is set to begin this week. opening statements in the trial against seven-time cy young award winner roger clemens are tentatively scheduled for wednesday. clemens is charged with lying about his use of enhancing drugs. if convicted he faces serious jail time and up to $1.5 million in fines. pepco comes out on top in a list of names at the bottom of the list. according to the american customer satisfaction index group pepco is the most disliked company in the country. utility company ranked dead last
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in consumer satisfaction because of complaints about poor service, high prices and privacy intrusions. pepco is followed by delta. time warner cable took the third stop. comcast took the fourth spot. comcast is a parent company of nbc universal which owns news4. cable tv provider charter communications came in fifth. bank of america, jpmorganchase, you airways also made the list. our time right now is nine minutes after 11 cloak. coming astronauts are tracking space junk. what they plan to do if it heads their way. drink up. who is offering free ice cold drinks today? stay with us.
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most what has taken place over the last few days and over this weekend. as you may know they had to avoid u.s. default. the debt ceiling issue and then negotiators on both sides including the president, speaker of the house deciding to go further. talking about taxes, federal deficit, and medicare, social security. our chief white house correspondent and political director chuck todd standing by in the white house briefing room where we are expecting the president behind him in a moment. chuck, what blew up these talks? >> well, by saturday they blew up and john boehner pulled out of the big deal. the reason he had to pull out of the big deal, his own house republicans were not supportive of any idea putting taxes on the table. particularly in the amount of money john boehner was suggesting. last night's meeting here at the white house between all the congressional leaders and the president was tense and it was cordial. what happened after the meeting, decision was made that
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republicans would come back with what they believe is a plan that could pass a house senate -- smaller plan and as far as the white house is concerned, they want the president to use this press conference to at least outline what he believes his big plan ought to be which includes potentially cuts in social security as well as tax increases. >> chuck todd, we will let you take a seat in the front row as the president prepares to enter. call it big deal or grand bargain. whatever it is, both sides were at least engaged in this talk. what you are about to see is the president using the communication powers of the incumbency as the door opens and he enters. >> good morning, everybody. i-want to give an update and then i will take a few questions. as all of you know, i met with congressional leaders yesterday and we are going to be meeting again today. we are going to meet every single day until we get this
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thing resolved. the good news is that all of the leaders continue to believe rightly that it is not acceptable for us not to raise the debt ceiling and to allow the u.s. government to default. we cannot threaten the united states for taking credit for the first time in our history. we still have a lot of work to do, though, to get this problem solved. and so let me just make a couple of points. first of all, all of us agree that we should use this opportunity to do something meaningful on debt and deficits. and the reports that have been out there have been largely accurate that speaker boehner and myself had been in a series of conversations about doing the biggest deal possible. so that we could actually
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resolve our debt and our deficit challenge for a long stretch of time. and i want to say i appreciate speaking boehner's good faith efforts on that front. what i emphasized to the bar group of congressional leaders yesterday is now is the time to deal with these issues. if not now, when? i have been hearing from my republican friends for quite some time that it is a moral imperative for us to tackle our debt and our deficits if a serious way. i have been hearing from them that this is one thing that's creating uncertainty and holding back investment on the part of the business community. and so what i have said to them is let's go. and it is possible for us to construct a package that would be balanced, would share sacrifice, would involve both parties taking on their
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sacred -- would involve some meaningful changes to medicare and social security and medicaid that would preserve integrity of the programs and keep our sacred trust with our seniors but make sure those programs were there for not just this generation but for the next generation. that is possible for us to bring in revenues in a way that does not impede our current recovery but is fair and balanced. we have agreed to a series of spending cuts that will make the government leaner, meaner, and more effective more efficient and give the taxpayers more bang for their buck and includes defense spending and includes health spending and includes some programs that i like very much and we -- would be nice to have but that we can't afford right now. if you look at this overall package we could achieve a
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situation in which our deficits were at a manageable level and debt levels were stabilized and the economy as a whole, i think, would benefit from that. moreover, i think it would give the american people enormous confidence that this town can actually do something once in a while. that -- we can defy the expectations that we are always thinking in terms of short term politics in the next election and every once in a while we break out of that and we do what's right for the country. so i continue to push the congressional leaders for the largest possible deal. and there's going to be resistance. there's, frankly, resistance on my side to do anything on -- entitlements? there is -- strong resistance on the republican side to do anything on revenues.
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but if each side takes a position, each side wants 100% of what's -- ideological predispositions are, then we can't get anything done. and i think the american people want to see something done. they feel a sense of urgency. both about the breakdown of our political process and also about the situation of our economy. what i have said to the leaders is bring back to me some ideas that you think can get the necessary number of votes in the house and the senate and i'm happy to consider all -- options, all alternatives, that they are looking at. but things that i will not consider are a 30-day or 60-day or a 90-day or 180-day temporary stopgap resolution to this problem. this is the united states of
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america. and, you know, we don't manage our affairs p in three-month increments. we don't risk u.s. default on our obligations because we can't put politics aside. so i have been very clear to them. er with going to resolve this and resolve this for a reasonable period of time and we are going resolve it in a serious way. my hope is that as a consequence of negotiations that take place today, tomorrow, and the next day, and through next weekend, if necessary, we are going to come up with plan that solves our short-term debt and deficit problems and avoids default, stabilizes the economy, and -- proves to the american people that we can actually get things done in this country. and in this town. with that i'm going to stake
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questio take some questions. >> thank you, mr. president. given we are running out of time, would you explain what is your plan for where these talks go if the republicans continue to oppose tax increases as they adamantly said they will? secondly on the point about no short-term stop-gap measure, if it came down to that and i know you are opposed it. >> i will not sign a 30-day or 60-day or 90-day extension. that's just not an acceptable approach. and if we think it is going to be hard -- we think it is hard now, imagine how these guys are going to be thinking six months from now in the middle of election season when they are all up? it is knowing going to get easier. it is going to get harder. so -- we might as well do it now. pull off the band-aid. eat our peas.
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now is the time to do it. if not now when? we keep talking about this stuff. you know, we have these high-minded pronouncements about how we have to get control of the deficit and how we owe it to our children and our grandchildren. well, let's step up. let's do it. i'm prepared to do it. i'm prepared to take on significant heat from my party to get something done. and i expect the other side should be willing to do the same thing if they mean what they say that this is important. let me just comment on this whole issue of tax increases because there has been a lot of information information floenting around here. let's be clear. nobody is talking about increasing taxes now. nobody has talked about increasing taxes next year. but we have talked about is that
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starting in 2013, that we have gotten rid of some of these egregious loopholes that are benefiting corporate jet owners or oil companies at a time they are making billions of dollars of profits. what we have said as part after broader package, we should have revenues and the best place to get those revenues are from folks like me who have been extraordinarily fortunate and millionaires and billionaires can afford to pay a little bit more going back to the bush tax rates and what i have also said to the republicans is that if you don't like that formulation, then i'm happy to work with you on tax reform that could potentially lower everybody's rates and broaden the base as long as that package was sufficiently progressive so that we weren't balancing the budget on the backs of middle class families and working class
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families. we weren't letting hedge fund managers or -- authors of bestselling books off the hook. that is a reasonable proposition. so when you hear folks saying well, you know, the president shouldn't want massive job killing tax increases when the economy is this weak, nobody is looking to raise taxes right now. we are talking about potentially 2013 and out years. in fact, the only proposition that's out there about raising taxes next year would be if we don't renew the payroll tax cut we passed in december and i'm in favor of renewing it for next year as well. there have been some republicans that said we may not renew them. if we don't renew that then the thousand dollars that's been going to a typical american family this year as a consequence of the tax cut that i worked with the republicans and passed in december, that
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lapses. that could weaken the economy. so i have been over backwards to work with the republicans to try to come up with a formulation that doesn't require them to vote sometime in the next month to increase taxes. what i said is let's identify a revenue package that makes sense and commensurate with the sacrifices we are asking other people to make and then i'm happy to work with you to figure out how else we may do it. i do not see a path to a deal if they don't budge, period. i mean, if the basic proposition it is my way or the highway, then we are probably not going to get something done because we have divided government. we have docrats controlling the senate. and we probably are going to need democratic votes in the house for any package that could
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possibly pass. and so -- if in fact mitch mcconnell and john boehner are sincere and i believe they are, then don't want to see the u.s. government default, then they are going to have to compromise just like democrats are going to have to compromise, just like i have shown myself willing to compromise. chip reid? >> thank you, mr. president. you said that everybody in the room is willing to do what they have to do, wants to getting? done by august 2. but isn't the problem the people that aren't in the room and in particular p. republican presidential candidates, republican tea partiers on the go and the american public, latest cbs news poll shows thoonl 24% of americans said you should raise the debt limb to it avoid an economic catastrophe. there are still 69% who oppose raising the debt limit. isn't the problem that you and others have failed to convince the american people that we have a crisis here? how are you going to change that?
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>> let me distinguish between professional politicians and the public at large. the public is not paying close attention to the ins and outs of how a treasury auction goes. they shouldn't. they are worrying about their family and about their jobs. they are worrying about their neighborhood. they have a lot of other things on their plate. we are paid to worry about it. i think that depending on how you phrase the question if you said to the american people is it a good idea for the united states not to pay its bills and potentially create another recession they could throw millions of more people out of work, i feel confident that i can get a majority on my side on that one. that's the fact. if we don't raise the debt ceiling, and we see a crisis of confidence in the markets and suddenly interest rates are
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going up significantly and everybody is paying higher interest rates on their car loans and on their mortgages, on their credit cards, and that's sucking up a bunch of additional money out of the pockets of the american people i promise you they won't like that. now i will say that some of the professional politicians know better. and for them to say that we shouldn't be raising the debt ceiling, it is irresponsible. they know better. and -- you know, this is not something that, you know, i am making up. this is not something that tim geithner is making up. we are not out here trying to use this as a means of doing all of these really tough political things. i would rather be talking about stuff that everybody welcomes
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like new programs or you know, the nfl season getting resolved. unfortunately this is what's on our plate. it is before us right now. and we have to deal with it. what -- what you are right about, i think, is that the leaders in the room here at a certain point have to step up and do the right thing regardless of the voices in our respective parties that are trying to undermine that effort. i have a stake in john boehner successfully persuading his caucus this is the right thing to do like he has a steak in seeing me successfully persuading the democratic party that we should take on these problems we have been talking about for too long but have not been doing anything about. >> i think speaker boehner has been is he sincere about trying to do something big. i think he would like to do
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something big. his politics within his caucus have been very difficult. you are right. and -- this is part of the problem with a political process where folks are rewarded for saying irresponsible things to win elections or obtain short-term political gain when we actually are in position to try to do something hard, you know. between haven't always laid the groundwork for it. i think that, you know, it will take some work on his side but look, it is also going to take some work on our side in order to get this thing done. the vast majority of democrats on capitol hill would prefer not to have to do anything on entitlements. would prefer, frankly, not to have to do anything on some of these debt and deficit problems. i'm sympathetic to their concerns because they are
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looking after folks that already are hurting and vulnerable and there are families out there and seniors dependent on some of these programs. and what i tried to explain to them is, number one, you look at the numbers, then medicare in particular will run out of money and we will not be able to sustain that program. no matter how much taxes go up. it is not an option for us to just sit by and do nothing. if you are a progressive who cares about the integrity of social security and medicare and medicaid, and believes that it is part of what makes our country great, we look after our seniors and we look after the most vulnerable, we have an obligation to make sure that we make those changes that are required to make it sustainable over the long term. if you are a progressive that cares about investments in head
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start and student loan programs and medical research and infrastructure, we are not going to be able to make progress on those areas if we haven't gotten our fiscal house in order. so -- you know, the argument i'm making to my party is that the values we care about making sure that everybody in this country has a shot at the american dream and everybody is out there with -- the opportunity to succeed if they work hard and deliver a responsible -- a responsible life and the government has a role to play and in providing some of that opportunity through things like student loans and -- making sure that our roads and highways and airports are functioning and making sure that we are investing in research and development for the high-tech jobs of the future. if you care about those things, then you have to be interested in figuring out do we pay for that in a responsible way. so, yeah, we are going to have a sales job. this is not pleasant.
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it is -- it is hard to persuade people to do hard stuff. that entails trimming benefits and increasing revenues. but the reason we have a problem right now is people keep avoiding hard things. i think now is the time for us to take it on. rich wolf? >> talking about families, sacrifice, $4 trillion deal you are talking about roughly seems now 4-1 spending to taxes. talking about $800 billion in taxes roughly. that doesn't seem very fair to some democrats. i'm wondering if you can clarify when we are at that level. and if you can clarify your social security position. would any of the money, social security, even from cpi go towards the deficit as opposed into trust? >> with respect to social security, social security is not the source of our deficit problems.
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social security, it has -- it is part of a package would be an issue of how do we make sure social security extends its life and its strength. so the reason to do social security is to strengthen social security to make sure those benefits are there for seniors in the out years. the reason they include that in this package if you are going to take a bunch of tough votes you may as well do it now. as opposed to trying to muster up the political will to get something done further down in the future. with respect to a balanced package, is the package we are talking about exactly what i would want? no. i might want more revenues. and fewer cuts to programs that
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benefit middle class families trying to send their kids to college. or benefit, you know, all of us because we are investing more on medical research. so -- i make no claims that somehow the -- position that speaker boehner and i have discussed reflects 100% of what i want. but that's the point. my point is that i'm willing to move in their direction in order to get something done. and that's what compromise entails. we have a system of government in which everybody has to give a little bit. now what i will say is that the revenue components that we have discussed would be significant and would target folks who can most afford it. and if we don't do any -- you may hear the argument that why not just go ahead and do all the
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cuts, and -- we can debate the revenue issues in the election. you will hear that from some republicans. the problem is that if you don't do the revenues, then to get the same amount of savings, you have to have more cuts. which means that seniors or it is poor kids or it's medical researchers or it's, you know, our infrastructure that suffers. and -- it -- i do not want -- i will not accept a deal in which i am asked to do nothing. in fact, i'm able to keep hundreds of thousands of dollars in additional income that i don't need while a parent out there struggling to figure out how to send their kid to college
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suddenly finds the big guy a couple thousand dollars less in grants or student loans. that's what the revenue debate is about. it is not because i want to raise revenues for the sake of raising revenues or i have some grand ambition to create a bigger government. it is because -- if we are going to actually solve the problem, there are -- a fine it number of ways to do it. and if you don't have revenues, it means you are putting more of a burden on the people who can least afford it. that's not fair. i think the american people agree with me on that. sam stein? >> with unemployment at 9.2%, the public sector, now a good time [ inaudible ] piggyback,
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[ inaudible ]. >> our biggest priority of the administration is getting the economy back on track and putting people back to work. now, you know, without relitigating the past, i'm absolutely convinced and the vast majority of the economy -- economists are convinced that the steps we took in the recovery act saved millions of people their jobs. or created a whole bunch of jobs. and -- part of the evidence of that is, as you see what happens with the involve rig act phasing out. you know, when i came into office and -- budgets were hemorrhaging at the state level, part of the recovery act was giving states help so they wouldn't have to lay off teachers, police officers, firefighters. and as we have seen that federal support for states diminish, you have seen the biggest job losses
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in the public sector, teachers, police officers, fire fighters losing their jobs. so -- my strong preference would be for us to figure out ways that we can continue to provide help across the board. but i'm operating within political constraints here. because whatever i do has to go through the house of representatives. what that means then is that among the options that are available to us is, for example, the payroll tax cut. which might not be exactly the kind of program that i would design in order to boost employment but does make a difference because it puts money in the pockets of people that are spending it at businesses, large and small, that gives them more customers and increases demand and gives businesses a greater incentive to hire. and dash that would be, for example, a component of this
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overall package. unemployment benefits puts money in the pox pockets of folks out there knocking on doors trying to find a job every day. giving them those resources and that puts more money into the economy and that potentially i am proves it -- i am proves the climate for businesses to want to hire. so -- you know, as part of a component of a deal, i think it is very important for us to look at what are the steps we can take short term in order to put folks back to work? i am not somebody that believes senate just because we solved the deficit and debt problems short term, medium or long term, that automatically solves the unemployment problem. i think we are still going to have to do a bunch of stuff trade deals that are before congress right now that could have tens of thousands of jobs. republicans gave me this list after -- at the beginning of this year as a priority,
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something that they thought they could do, and now i'm ready to do it. and so far we haven't gotten the kind of movement i would have expected. we have got -- potential to create an infrastruck fewer bank that could put con sfruks workers back to work now rebuilding our roads and bridges and our -- our vital infrastructure across the country. so -- those are still areas where i think we can make enormous progress. i do think that if the country as a whole sees washington act responsibly, compromises being made, deficit and debt being dealt with for 10, 15, 20 years, that will help with businesses feeling more confident about aggressively investing in this country, foreign investors saying that -- america has its act together and -- are willing
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to invest. and so -- it can have a positive impact in overall growth and employment. it is not the only sol pugs. we are still going to have to have a strong jobs agenda but it is part of a solution. i might add that it is -- the primary solution that the republicans have offered whether it comes to jobs. they keep on going out there and saying -- you know, mr. president, what are you doing about jobs? when you ask them what would you do? we have to get -- government spending under control. we have to get our deficits under control. i say okay. let's go. where are they? i mean, this is -- this is what they claim would be the single biggest boost to business certainty and confidence. so -- what's the holdup?
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with respect to social security, as i indicated earlier, making changes to these programs as s so difficult that this may be an opportunity for us to go ahead and do something smart that strengthens social security and gives not just this generation but future generations the opportunity to say this thing is going to be in there for the long haul. now that may not be possible. and -- you are absolutely right that as i said, social security is not the primary driver of our long-term deficits and debt. on the other hand we want to make sure that social security is going to be there for the next generations and if there is a reasonable deal to be had on it, it is one i'm willing to pursue. >> social security, raising the age -- >> i'm probably not going to get into the details right now of negotiations. i might enjoy negotiating with
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you. but i don't know how much juice you've got in the republican caucus. that's what i'm figuring. all right. leslie clark. >> thank you, mr. president. could you talk -- talk to economists to the degree that a deal needs to be made, have you worked with -- business leaders involved to lobby congress to raise that ceiling? if so who are you talking to? >> i have spoken extensively to business leaders. business leaders in the abstract want to see a resolution to this problem. what i found is that they are somewhats aretant -- somewhat hesitant. they have a bunch of business pending before congress and don't want to make anybody mad.
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and -- you know, so -- this is a problem of our politics and politicians but it is not exclusively a problem of our politics and politicians. the business communities is a lot like everybody else which is -- we want to cut everybody else's stuff and we want to keep our stuff. we want to cut our taxes. if you want to raise revenue with somebody else's taxes that's okay. that kind of mindset is why we never get the problem solved. there have been business leaders like warren buff thaet spoke out forcefully on this issue, some of the folks that participated in the simpson commission made very clear that they would agree to a balanced approach. even if it meant for them individually that they -- were seeing slightly higher tax owes their income given that the
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average ceo 23shsaw a 23% raise while the average worker saw 0% to 1% raise last year. i think there are a lot of well-meaning business partners out there that recognize the need to make something happen. but i think that they have been hesitant to be as straightforward as i would like when it says that this is what a balanced package needs. it means there are spending cuts. it means that we've got some increased revenue. and it means that we are taking on some of the drivers of our long-term debt and deficits. >> can you say whether or not the administration -- can you say as the clock ticks down whether or not the administration is working on any sort of contingency plans? >> we are going to get this done by august 2.
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>> mr. president, to follow up on chip's question, you said that the speaker faces tough politics in his caucus. do you have complete confidence he can deliver the votes on anything that he agrees to? is he in control with his caucus? >> you know, that's a question for the speaker. not a question for me. my experience with john boehner is -- has been good. i think he's -- a good man who wants to do rite by the country. i think that it is a -- as chip alluded to, the politics that swept him into the speakership were good for midterm election. they are tough for governing. and, you know, part of what the republican caucus generally needs to recognize is that american democracy works when people listen to each other and -- willing to give each
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other the benefit of the doubt and we assume that the pa pay treatisem and making sensible compromises to solve big problems. and i think that there are members of that caucus who haven't fully arrived at that realization yet. >> your confidence in him wasn't shaken from him walking way from a big deal? >> you know, these things are a tough process. look, in -- in fairness, a big deal would require a lot of work on the part of harry reid and nancy pelosi and myself to bring democrats along. but the point is that if everybody gets into the boat at the same time, it doesn't tip over. i think that was bob dole's famous comment after striking a deal with the president and mr. gingrich back in the '90s.
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and that is always the case when it comes to difficult but important tasks like this. all right. last question. april ryan? >> mr. president, i want to revisit the issue of sacrifice. in 2009 you said that -- we had not seen flawed naand now that t cuts are looming, minorities, the poor, elderly, as well as people who are scared of losing their jobs. fearful and also what say you about the bill, debt-free america act, do you support that? are you supporting the republican bill similar modeled after that bill? >> well, i'm not going to comment on the particular bill right now. let me speak to the brad ever broader point you are asking
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about, april. this recession has been hard on everybody. but obviously it is harder on folks who have got less. and -- the thing that i am object obsessed with and have been since i came into office is all those families out there who are doing the right thing every single day, who are looking after their families and who are just struggling to keep up and just feel like they are falling behind no matter how hard they work. i got a letter this past week from a woman who her husband had lost his job and had, you know, pounded the pavement, fine lynn found a job, and felt like things were stableizing or -- for a few months, six months
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later he lost the second job and they are back looking again and trying to figure out how are they going to make ends meet. they are just -- you know, hundreds and thousands of folks out there that -- who really have seen as tough of an economy as we have seen in our lifetime. now, we took very aggressive steps when i first came into office to yank the economy out of a potential great depression and stabilize it. we were largely successful in stabilizing it but we stabilized it at a level where unemployment is still too high and economy is not growing fast enough to make up for all of the jobs that were lost before i took office in the few months after i took office. so -- this unemployment rate has been really stubborn. there are a couple of ways that we can solve that.
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number one is to make sure that the overall economy is growing and so -- we have continued to take a series of steps to make sure that there's money in people's pockets and they can go out and spend and that's what these payroll tax cuts were about. we have taken a number of steps to make sure businesses are willing to invest and that's what the small business tax cuts and the -- some of the tax breaks for companies that are willing to invest in plants and equipment and zero capital gains for small businesses. that's what that was all about giving businesses more incentive to invest. we have worked to make sure that the training programs that are out there for folks having a shift from jobs that may not exist anymore so they can get t the training they need for the jobs that exist. we have put forward a series of proposals to make sure that
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regulations that may be necessary pampering some businesses from investing that we are examining all of those for the cost and their benefits and if they are not providing the kind of benefits in terms of the public health and clean air and clean water and worker staf thai had been promised we should get rid of some of the regulati regulations. we have been looking at the whole menu of steps that can be taken. we are now in a situation where because the economy has moved slower than we wanted and because of the deficits and debt that result from the recession and the crisis, that -- taking an approach that costs trillions of dollars is not an option. we don't have that kind of money right now. what we can do is to solve this
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underlying debt and deficit problem for a long period of time so that then we can get back to having a conversation about all right, since we now have solved this problem, that's not no longer what's hampering economic growth and not feeding business in uncertainty. and everybody feels that the ground is stable under our feet. are there some strategies that we could pursue that would really focus on some targeted job growth? infrastructure bag primary example. inf infrastructure bank we proposed is relatively small. but could we imagine a project where we are rebuilding roads and bridges and ports and schools and broadband lines and smart grids and taken all the construction workers and putting them to work now, i can imagine a very aggressive program like
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that that i think the american people would rally around and would be good for the economy not just next year or the year after but for the next 20, 30 years. we can't even have that conversation if people feel as if we don't have our fiscal house in order. the idea here is let's -- let's act now, let's get this problem off the table, and then with firm footing, with a solid fiscal situation, we will then be in a position to make the kind of investments that are necessary to win the future. this is not a right or left conservative liberal situation. this is how do we pray in a smart way understanding we have short-term challenges and long-term challenges, if we can solve some of those long-term challenges, in a frees up some of our energies to be able to deal with the short-term ones as well.
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all right. thank you very much, everybody. >> the president delivering government, lobbying session, on what he would like to see come out of these talks on -- again, what started as keeping the u.s. from defaulting fixing this debt limit. chuck todd, one of the questioners in the front row, chuck, the president said very clearly, this isn't going to happen without a compromise and yet the other side has left over the issue of raising tax eggs on the rich. primarily. tell us how this gets done, do you think? >> well, i think it is important to understand what the president didn't say. who he wasn't talking about. is he was talking about the big $4 trillion deal in the past tense almost at times. i caught him doing that a few times. that tells me it is this middle
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deal. biden deal and talk bed about that. he did this last night. asked for them though come up with something they believe can pass. and the only veto line in the sand he drew was on some sort of short-term extension. if you want to read between the lines it is what he didn't say. he didn't outline his social security proposal. why? if it were on the table and could happen you might see him start to sell it but decided not to do that because it looks like this middle deal is where all the act. at least today and seems -- it was almost as if he seemed resigned that was the target at this point which is about a 2 to $2.5 trillion deal. kelly o'donnell on her beat. john boehner walking out of the white house. republican team saying this is too much. has caused a number of stories today about his leadership and does he have control of his caucus. no one should be surprised given the tea party component that
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came into washington against so much of what the kind of washington standing government army stands for. >> the president noted saying that the tea party movement that sweptber boehner into that top job is better for midterm politics than governing and it was notable how many times he praised in a muted fashion but clearly praised speaker boehner saying he is a good man that believes in his country and appreciated the gath effort. all of that praise you have to wonder how that tea party element of the house would take that. is that a little bit too kind from the president to the speaker. and speaker boehner has said that he believes the smaller deal is what can pass. it is the way to go now, wrapping up what chuck todd said that seems to be the target. it was famous when president bush invoked the broccoli and now the president saying we need to keetd our pea-- we need to e
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our peas. there will be hard work required here in the next ten days or so for a deal to happen. more coverage tonight. i'm brian williams, nbc news, new york. we have been listen to the president are from the white house. many reporters had questions and he said -- the president said over the next few days, they will meet every day in congress to try to iron out their differences the republicans and democrats. that's our news for now. we hope you will join us for the news at 4:00, 5:00, 6:00 and 11:00. [ mr. connally ] i was paying too much with cable.
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it was crazy! paying so much you want better quality. it was like you were trapped because that was the only system that was in our neighborhood -- was that cable. i was just getting too frustrated. [ male announcer ] stop paying for second best. now you can switch to verizon fios tv, internet and phone for just $99.99 a month for a year -- with no annual contract required. i always heard great things about fios, but the first time i saw the picture it was just like "wow." [ male announcer ] call now and we'll include over 60 premium channels, including showtime, starz, epix and more for 12 months. you just get so much more with fios. when i'm on the internet things download like -- shoo! just as quick as i'm snapping my fingers. it's just "bam." [ male announcer ] millions of families have switched to fios. now you can too for just $99.99 a month for a year and get over 60 premium channels for 12 months. i didn't realize how good fios was until i got it. when i got it it's just "wow."

News 4 Midday
NBC July 11, 2011 11:00am-12:00pm EDT

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TOPIC FREQUENCY Us 17, John Boehner 6, Boehner 6, Germantown 5, U.s. 4, Chuck Todd 4, Washington 4, America 4, Pepco 3, United States 2, George 2, Chuck 2, Comcast 2, Megan Mcgrath 2, Bob Dole 1, Nancy Pelosi 1, Mitch Mcconnell 1, Mr. Gingrich 1, Leslie Clark 1, Medicare 1
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